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Green Ocean fiscal Q2 loss widens 27.8% YOY

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Green Ocean fiscal Q2 loss widens 27.8% YOY

Green Ocean Corp. Berhad said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 460,000 ringgits, compared with a loss of 360,000 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 0.9% from negative 7.1% in the year-earlier period.

Total revenue climbed on an annual basis to 48.7 million ringgits from 5.0 million ringgits, and total operating expenses grew year over year to 49.4 million ringgits from 5.6 million ringgits.

Reported net income totaled a loss of 736,000 ringgits, or a loss of 0 sen per share, compared to a loss of 576,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 23, US$1 was equivalent to 4.28 ringgits.